The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(8.82%) | $25,992,540 | | Net Lumpsum Payment | $159,708,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$911,991 |
$5,641,902 |
| 2 |
$10,857,348 |
$3,977,549
$957,618 |
$5,922,181 |
| 3 |
$11,400,078 |
$4,178,359
$1,005,487 |
$6,216,232 |
| 4 |
$11,970,288 |
$4,389,337
$1,055,779 |
$6,525,172 |
| 5 |
$12,568,665 |
$4,610,736
$1,108,556 |
$6,849,373 |
| 6 |
$13,197,270 |
$4,843,320
$1,163,999 |
$7,189,951 |
| 7 |
$13,856,790 |
$5,087,343
$1,222,169 |
$7,547,278 |
| 8 |
$14,549,973 |
$5,343,820
$1,283,308 |
$7,922,845 |
| 9 |
$15,277,506 |
$5,613,008
$1,347,476 |
$8,317,022 |
| 10 |
$16,041,450 |
$5,895,667
$1,414,856 |
$8,730,927 |
| 11 |
$16,843,179 |
$6,192,307
$1,485,568 |
$9,165,304 |
| 12 |
$17,685,441 |
$6,503,944
$1,559,856 |
$9,621,641 |
| 13 |
$18,569,610 |
$6,831,086
$1,637,840 |
$10,100,684 |
| 14 |
$19,498,434 |
$7,174,751
$1,719,762 |
$10,603,921 |
| 15 |
$20,473,287 |
$7,535,447
$1,805,744 |
$11,132,096 |
| 16 |
$21,496,917 |
$7,914,190
$1,896,028 |
$11,686,699 |
| 17 |
$22,571,385 |
$8,311,743
$1,990,796 |
$12,268,846 |
| 18 |
$23,700,126 |
$8,729,377
$2,090,351 |
$12,880,398 |
| 19 |
$24,885,201 |
$9,167,855
$2,194,875 |
$13,522,471 |
| 20 |
$26,129,358 |
$9,628,193
$2,304,609 |
$14,196,556 |
| 21 |
$27,436,032 |
$10,111,662
$2,419,858 |
$14,904,512 |
| 22 |
$28,807,971 |
$10,619,280
$2,540,863 |
$15,647,828 |
| 23 |
$30,247,923 |
$11,152,062
$2,667,867 |
$16,427,994 |
| 24 |
$31,760,697 |
$11,711,788
$2,801,293 |
$17,247,616 |
| 25 |
$33,348,354 |
$12,299,221
$2,941,325 |
$18,107,808 |
| 26 |
$35,016,390 |
$12,916,395
$3,088,446 |
$19,011,549 |
| 27 |
$36,766,866 |
$13,564,071
$3,242,838 |
$19,959,957 |
| 28 |
$38,605,278 |
$14,244,283
$3,404,986 |
$20,956,009 |
| 29 |
$40,535,748 |
$14,958,557
$3,575,253 |
$22,001,938 |
| 30 |
$42,562,398 |
$15,708,418
$3,754,004 |
$23,099,976 |
|
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